Oil and gas producer Arrow Exploration Q2 revenue jumps on higher output
Oil and gas producer Arrow Exploration Q2 revenue jumps on higher output
Overview
Canada oil and gas producer's Q2 revenue more than doubled yr/yr on higher production and prices
Q2 adjusted EBITDA rose 300% yr/yr; company posted net income after prior-year loss
Results driven by new output from Mateguafa Attic and Icaco fields, offsetting declines elsewhere
Outlook
Arrow plans to drill additional wells at the Icaco pad during the remainder of 2026
Company expects current capital expenditure tempo to continue through 2026, funded by cash and cashflow
Arrow continues engagement with authorities on Tapir block extension and expects to secure it
Result Drivers
NEW FIELD OUTPUT - Higher production from Mateguafa Attic and Icaco fields drove Q2 growth, offsetting declines in other fields
HIGHER REALIZED OIL PRICES - Improved crude oil prices contributed to increased revenue and operating netbacks
Company press release: ID:nRSa3250Sa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Adjusted EBITDA |
| $25.10 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Arrow Exploration Corp is C$0.79, about 58.7% above its August 26 closing price of C$0.50
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago
Reuters Recommended Reads
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Aug 25 - Norway's NorAm Drilling Q2 revenue rises sequentially on rigs efficiency
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)